You want more tax from companies that you say we are too reliant on.
Stick to a point here.
20% of Irelandâs tax take is from corporation tax. That was 12% a decade ago. Half of that tax comes from the top 10 MNCs and overall 82% of CT comes from MNCs.
Globally, it is c. 13.3% but it gets even starker when you consider that this includes all sorts of countries with large black economies that struggle to tax income. The Revenue Commission have their faults, but Ireland is very efficient at collecting taxes due.
The narrative 10 years ago was that MNCs paid little tax but that was made up on in higher income taxes from greater employment. That simply is not the case now. Yet you make wild claims that they pay nothing here.
I think there are lots of risks with an economy built on any one sector and I think the MNC concentration risk is widely accepted.
That doesnât mean though that the MNC sector hasnât been transformationally good for the country and citizens over the last 40 years and continues to be so. It has allowed a surge in the standard of living which is probably unparalleled amongst other first world countries. This is a success story, not a failure despite the concentration risk.
If you want to ignore the elephant in the room then be my guest. The policies of FFG have brought this mess but sure stick your head in the head in the sand.
Maybe government policy should invest more in SMEs, maybe govt policy should not be to hawk things off to private sector, to make state services and resources a commodity for the profit sector?
I know you want to avoid this issue as best you can. Why is Ireland so reliant on MNCs and is it not a huge problem for the economy and society as a whole?
Billions being invested in SMEs by the ISIF. Wouldnât have been possible if the âŹ13bn SF jobs plan which emptied the NPRF had been implemented, which had a goal of creating less jobs than was actually created by the FG LAB government.
Separate issue that you are attempting to deflect to, one that underlines the point made that there was always an inherent contradiction to your position.
It is a separate issue though you will note the line from me below;
The key point here is that you claimed MNCs âpay little to no tax hereâ. That is factually incorrect and you have now thankfully acknowledged that you were wrong.
It has been and is now very good. Hopefully it continues to be good.
In the absence of the development of this sector we would be a far poorer country that what we are.
Thatâs not to dismiss the challenges in housing and health but its good that we donât also have to face huge unemployment rates, have the cash to invest into those areas etc.
You could just say that yes, FFGâs policy of short termism and leaving things to the private sector has put the state in a perilous position where they are now reliant on and beholden to MNCs. That simple.
Itâs like taking money from a loan shark, short term its good.
But long term, you end up being had by the balls and soon you have little say in your decisions and merely follow orders which can have grave consequences.
If the MNCs pull out, what happens? What do we have to do to hold onto the MNCs? Whatever it takes. Is that a good thing? Certainly not.
There are deepening societal crises in the likes of health and housing now, major capital investment is needed in these areas, in transportation. A huge pension pitfall to fill? Who lead us here? The future ahead is bleak.
FFG policy has always been short termism, careless and throw it to the private sector. The state is now beholden to the private sector. A big nationalisation drive is needed in Irish politics.
